The Vice Chancellor of the University of Professional Studies, Accra, Professor Abednego F. O. Amartey, has passionately advocated for an upward adjustment to the current GETFund levy.
He emphasised that the current allocation of 2.5 percent of the Value Added Tax (VAT) to the GETFund is woefully inadequate, given the increasing number of students in public higher education institutions and the increasing demand for projects funded by the GETFund.
Prof Amartey was speaking at a policy dialogue forum organised by the Ghana Academy of Arts and Sciences on Tuesday, October 31.
The event was themed “Motivating higher education reforms in Ghana towards equity and sustainability project.”
It brought together important stakeholders from Ghana’s tertiary education landscape, policy thinktanks, and civil society organisations engaged in education.
Speaking on the topic “Making the GETFund fit for purpose,” Professor Amartey noted that the “GETFund model requires a review to make it more effective and fit for purpose.”
He further added that “the [GETFund] Board should also adopt more innovative approaches in raising funds independent of the government.”
“Multiple stakeholder engagement is also recommended to help address areas of financing challenges and identify or explore other sustainable streams of income to support the Fund,” Prof. Amartey said.
He underscored the need for statutory reforms, stating that they are imperative to the GETFund’s survival and effectiveness.
“Efforts should be made to introduce efficiency, reduce waste, and create value within the administration of the fund,” Prof. Amartey said.
“Further, the GETFund should have a template that puts more emphasis on Higher Education Institutions (HEIs) than the pre-tertiary sector. The current 12% fund allocation to public HEIs is inadequate.”
